Looking to get started in Sask

[Roger Paczkowski]

Hi all, I am new to BiggerPockets, but have rental properties already.

From Sask but live in another territory for work. My wife and I are looking to get started in Sask or even AB. Is there anyone in Sask currently doing BRRR's or similar?

We are highly interested and eager to learn and be on the move. 

[Michael Hernik]

This thread is for Sask investing so if you are interested in AB, I believe there is another thread similar to this for AB investors. I think SK market will not tank as it has already correct itself for the over supply and new construction pressure created. It may continue to decrease slightly more but a 5-10 year forecast, I strongly believe in the SK market. We are not as dependent on the energy sector as AB is. Nutrien just built 3 multi-million dollar towers downtown, piling a ton of capital into Saskatoon. In fact, Saskatoon was one of the only cities in SK to grow in jobs and population this year, which implies although energy has been tight, the other sectors are creating jobs and bringing in talent to SK. I can't speak for AB but many individuals who moved from SK to AB during the boom have slowly returned back to SK for jobs. What I will say thoguh is that CMHC has done their best to try and avoid a market tank in real estate with their financing premiums for high debt ratios/low down payments. FHA loans in the U.S are less strict and more flexible. You also have 4 major banks in Canada that are heavily regulated unlike in the U.S where there are dozens, upon dozens of banks and options to consumers. Some U.S banks have already began reverting to sub-prime mortgages which is scary.